Paramount Co-CEO Chris McCarthy to Leave Post- Skydance Merger

Chris McCarthy, co-CEO of Paramount Global, is preparing to depart from the company following the finalization of its merger with Skydance. This decision comes after the Federal Communications Commission’s approval of the $8 billion deal. McCarthy took on the role of co-CEO of Paramount in April 2024 alongside George Cheeks and Brian Robbins. They stepped into these positions after Bob Bakish’s departure, during the initial negotiations with Skydance. McCarthy also serves as the president of Showtime/MTV Entertainment, overseeing streaming services like Paramount+ and Pluto TV.

As the merger progresses, Cheeks, who currently heads CBS, is expected to continue with the newly merged entity. On the other hand, Robbins, responsible for Paramount Pictures and Nickelodeon, is likely to depart. However, as of now, only McCarthy’s exit has been confirmed, while the status of the other executives remains uncertain.

The FCC’s approval of the transfer of Paramount’s broadcast licenses to Skydance paves the way for the deal to close soon. Once finalized, David Ellison will lead the combined company as CEO, with former NBCUniversal chief executive Jeff Shell taking on the role of president. McCarthy is committed to Paramount until the merger concludes, which is anticipated to happen in the coming weeks, according to sources close to the situation.